Erik Buell Racing has shut down its factory operation and filed for receivership, according to reports in American newspapers, leaving its World Superbike team, including riders Nico Canepa and Larry Pegram, looking for work.
Buell started EBR after the demise of the Buell brand, previously owned by Harley-Davidson until H-D wound the company up. EBR had acquired backing form Hero MotoCorp, selling almost 50 per cent of the business to the Indian firm for $25m.
This season was to be Team Hero EBR’s second in the Superbike World Championship, with riders Niccolo Canepa and Larry Pegram sitting 24th and 22nd in the championship following the latest round at Aragon in Spain.
“The turn we recently took, after we thought we were moving forward, was unexpected. We thought we had secured funding, but in the end, we were not able to get the funding in place. Therefore we need to do the best we can under the circumstances for all parties in interest,” said Buell in a statement.
"To say this setback is a disappointment does not begin to express what I feel right now. I am personally grateful for the support of our outstanding workers, customers and vendors. While this is a sad ending, I personally hope for a new and better beginning."
